Genesis Financial Solutions $5,825,000 Maryland Loan Settlement, Do You Have a Credit Account? File Your Claim by June 29, 2026

The Genesis Financial Solutions Settlement is a consumer lending class action where eligible Maryland residents who hold or held a Genesis credit account can receive a cash payment by filing a claim before June 29, 2026. Genesis Financial Solutions, Inc. agreed to a total settlement package of $5,825,000 to resolve allegations that its consumer lending and credit-related business practices in Maryland — involving personal loans and credit card accounts of less than $25,000 — violated the Maryland Consumer Loan Law and the Maryland Credit Services Businesses Act. Genesis denies all wrongdoing and settled to avoid the cost, risk, and uncertainty of further litigation.

Quick Facts: Genesis Financial Solutions Maryland Settlement

Field	Detail
Settlement Amount	$5,825,000 total package; $4,000,000 Settlement Payment Fund for class members
Claim Deadline	June 29, 2026
Opt-Out / Objection Deadline	June 29, 2026
Who Qualifies	Maryland residents who obtained credit of $25,000 or less, made at least one purchase or cash advance, and made at least one payment, where the application was submitted from Maryland and Genesis owns the right to collect payments
Payout Per Person	Approx. $30 if all 125,000 class members file; higher if fewer file; possible second distribution of $5+ from uncashed funds
Proof Required	No — Genesis’s records identify class members
Settlement Status	Preliminarily approved — claims open now
Administrator	Strategic Claims Services (SCS), P.O. Box 230, 600 N Jackson Street, Suite 205, Media, PA 19063
Official Website	marylandgenesissettlement.com
Last Updated	May 15, 2026

Current Status and What Happens Next

• The U.S. District Court for the District of Maryland issued the Preliminary Approval Order and directed Strategic Claims Services to send notice packets to all class members by email or first-class mail. If you received a notice, you are already identified as a class member.
• The Final Approval Hearing is scheduled for October 20, 2026, at 10:00 a.m. before Judge Deborah L. Boardman at the U.S. District Court for the District of Maryland, Southern Division, 6500 Cherrywood Lane, Greenbelt, MD 20770.
• After the court grants final approval and any appeal period expires, all authorized claimants will receive their settlement payment within 45 calendar days of the Effective Date. If uncashed checks leave funds remaining, a second distribution of at least $5.00 per person may be issued.

What Is the Genesis Financial Solutions Lawsuit About? Ford v. Genesis Financial Solutions, Inc., No. 8:23-cv-02156-DLB

This case has one of the more dramatic histories of any consumer lending settlement in recent years. It started as a state court complaint in Montgomery County, Maryland, worked its way to federal court, survived a motion to compel arbitration, was affirmed by the U.S. Court of Appeals for the Fourth Circuit — and ultimately landed at the doorstep of the U.S. Supreme Court before the parties reached a settlement on February 5, 2026, the night the plaintiff’s response to Genesis’s certiorari petition was being printed for filing.

The core legal claim is straightforward: plaintiff Steve Ford alleged that Genesis made or serviced personal loans and credit card accounts to Maryland consumers in amounts under $25,000 without holding the required license under the Maryland Consumer Loan Law, Md. Code Ann., Com. Law § 12-314, and the Maryland Credit Services Businesses Act, Md. Code Ann., Com. Law § 14-1901. Maryland law requires lenders doing business with Maryland consumers to obtain proper state licensing. The lawsuit alleged Genesis operated through arrangements with third-party banks — holding the right to collect all principal, interest, and fees — while avoiding the licensing obligations those arrangements should have triggered.

Genesis disputes that its banking partnerships required separate Maryland licensing, and denies any wrongdoing. But the company chose to settle rather than continue litigation that had already reached the nation’s highest court. This is the second major Maryland credit licensing settlement we have covered. The legal theory is nearly identical to the Continental Finance $5.75M Maryland credit card settlement, where the same law firm — Gordon, Wolf & Carney, Chtd. — also represented Maryland consumers and prevailed in a similar case.

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Who Qualifies for the Genesis Financial Solutions Settlement?

The settlement class is defined by Genesis’s own records. If you received a notice by mail or email from Strategic Claims Services, you are already confirmed as a class member. Here is the full eligibility picture.

You may qualify if you:

• Are a Maryland resident who obtained a credit account in an amount of $25,000 or less
• Made at least one purchase or cash advance on the account
• Made at least one payment on the account
• Submitted the credit application from Maryland
• Your account is one where Genesis owns the right to collect all principal, interest, and fees through an agreement with a third-party bank — brands associated with Genesis and its successor Concora Credit include store cards and consumer credit products serviced through bank partnerships

You do NOT qualify if:

• Your claims are barred by the applicable statute of limitations
• You are a current or former employee or representative of Genesis or related defendants
• You are Court personnel involved in this case

If you are not sure whether you are included, call the settlement administrator at 1-866-274-4004 or visit marylandgenesissettlement.com.

How Much Can You Get from the Genesis Financial Solutions Settlement?

Genesis is paying $4,000,000 into a non-reversionary Settlement Payment Fund specifically for class member payments. Critically, the $1,700,000 in attorneys’ fees, the $25,000 class representative incentive award, and the $100,000 in administrative costs are all paid by Genesis separately — they do not reduce your payment from the $4,000,000 fund.

Your individual payment is an equal share of the Settlement Payment Fund divided among all valid claimants. The settlement notice states there may be as many as 125,000 class members. If every one of them files a valid claim and administrative costs stay at or below $200,000, each claimant can expect approximately $30. If fewer people file — which is typical in most class action settlements — the per-person amount rises.

A second distribution is also possible: if uncashed or uncollected checks leave a balance in the fund after the initial distribution, and that balance is enough to pay at least $5.00 per participating class member, a second round of payments will be sent. Any remaining funds after both distributions go as cy pres donations to the CASH Campaign of Maryland, the Maryland Council on Economic Education, and the University of Maryland Francis King Carey School of Law.

You choose your payment method when you file your claim: paper check or electronic payment.

Step-by-Step: How to File Your Genesis Financial Solutions Claim

Filing takes about 5 minutes. You will need your unique claimant ID from your notice if you have one.

Step 1 — Go to the official settlement website at marylandgenesissettlement.com/file-a-claim-online

Step 2 — Enter your full name, email address (if any), and the unique claimant ID code from your notice (if you received one)

Step 3 — Provide your current mailing address — this is where your check will be sent if you choose paper payment

Step 4 — Select your payment method: paper check or electronic payment

Step 5 — Submit your completed claim form online, or download and print the claim form from the website and mail it to: Ford v. Genesis Financial Solutions, Inc., c/o Strategic Claims Services, P.O. Box 230, 600 N Jackson Street, Suite 205, Media, PA 19063

Step 6 — Save your submission confirmation. Monitor marylandgenesissettlement.com for payment timeline updates after the October 20, 2026 hearing.

Estimated time to complete: 5 minutes.

Important Deadlines and Dates

Milestone	Date
Case Filed (State Court)	2023
Case Removed to Federal Court	August 9, 2023
Court Denied Arbitration	March 28, 2024
Fourth Circuit Affirmed — Denial of Arbitration	May 30, 2025
Settlement Reached	February 5, 2026
Settlement Agreement Filed	March 17, 2026
Notice Date	May 14, 2026
Claim Filing Deadline	June 29, 2026
Opt-Out / Objection Deadline	June 29, 2026
Final Approval Hearing	October 20, 2026, 10:00 a.m.
Payments Issued	Within 45 days of Effective Date (after final approval and any appeals)

Frequently Asked Questions

Do I need to file a claim to receive a Genesis settlement payment?

Yes. Unlike some settlements where payments are automatic, you must submit a valid claim form by June 29, 2026 to receive a payment. If you do nothing and do not exclude yourself, you will still be bound by the settlement — but you will receive no money.

Is this settlement legitimate?

Yes. Ford v. Genesis Financial Solutions, Inc., Case No. 8:23-cv-02156-DLB, is a certified class action pending in the U.S. District Court for the District of Maryland before Judge Deborah L. Boardman. The settlement administrator is Strategic Claims Services. The official settlement website is marylandgenesissettlement.com. Court records are accessible at PACER (pacer.uscourts.gov).

When will I receive my Genesis settlement payment?

Payments will be issued within 45 calendar days of the Effective Date, which occurs after the court grants final approval at the October 20, 2026 hearing and any appeal period expires. If there are no appeals, expect payments in late 2026 or early 2027.

What if I missed the June 29, 2026 claim deadline?

If you miss the June 29 deadline, you will not receive a payment. You will, however, remain bound by the settlement and release your claims against Genesis unless you opted out before the same June 29 deadline.

What is Genesis Financial Solutions, and what brands does it use?

Genesis Financial Solutions, Inc. is a consumer lending company that partners with third-party banks to issue store credit cards and personal credit accounts. Its successor by merger is Concora Credit, Inc., which is also released under this settlement. Genesis-managed accounts are often retail store credit cards or private-label credit products. If you have received billing communications from Genesis or Concora Credit for a Maryland credit account, that account likely falls within the class.

Will my settlement payment be taxable?

Settlement payments in consumer class actions are typically treated as a recovery for economic harm and may not be taxable, but tax treatment depends on the nature of your claim and individual circumstances. The settlement does not provide tax advice. Consult a tax professional if you have questions about how your payment should be reported.

Can I still sue Genesis separately if I opt out?

Yes. Opting out is the only way to preserve your individual right to sue Genesis. To opt out, mail a signed letter including your name, address, telephone number, email address, and a statement that you wish to be excluded from the settlement — postmarked no later than June 29, 2026 — to: Ford v. Genesis Financial Solutions, Inc., c/o Strategic Claims Services, P.O. Box 230, 600 N Jackson Street, Suite 205, Media, PA 19063. If you opt out, you receive no payment from this settlement.

What laws did Genesis allegedly violate?

The lawsuit alleges Genesis violated the Maryland Consumer Loan Law, Md. Code Ann., Com. Law § 12-314, which requires lenders to hold a state license before making or servicing consumer loans under $25,000 to Maryland borrowers, and the Maryland Credit Services Businesses Act, Md. Code Ann., Com. Law § 14-1901, which regulates businesses that provide credit services to Maryland consumers. Under Maryland law, loans made without proper licensing may be void and unenforceable — meaning the lender may have no legal right to collect payments or retain money already collected.

Sources & References

• Official Settlement Website: marylandgenesissettlement.com
• Long Form Notice: marylandgenesissettlement.com/wp-content/uploads/2026/05/Ford-v.-Genesis-Long-Form-Notice-FINAL.pdf
• Settlement Agreement: marylandgenesissettlement.com/wp-content/uploads/2026/05/Filed-Exhibit-A-Settlement-Agreement.pdf
• Court: U.S. District Court for the District of Maryland, Case No. 8:23-cv-02156-DLB, Judge Deborah L. Boardman
• Online Claim Form: marylandgenesissettlement.com/file-a-claim-online

Prepared by the AllAboutLawyer.com Editorial Team and reviewed for factual accuracy against the official Settlement Agreement, the Long Form Notice dated May 14, 2026, and the settlement website at marylandgenesissettlement.com on May 15, 2026. Last Updated: May 15, 2026

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Legal claims and outcomes depend on specific facts and applicable law. For advice regarding a particular situation, consult a qualified attorney.